Foreign firms lease record 9.1 million square feet of office space in January-March to set up GCCs in India: CBRE
- IBEF
- April 7, 2026
India’s commercial office market witnessed a strong start to 2026, driven by rising demand from foreign companies establishing Global Capability Centres (GCCs). According to a report by CBRE Group, overseas firms leased a record 9.1 million square feet of office space across the top nine cities during January-March 2026, marking the highest-ever quarterly leasing for GCCs. Overall gross leasing activity rose 5% year-on-year to 20.7 million square feet, compared to 19.7 million square feet in the same period last year. Key markets such as Bengaluru, Delhi-NCR, and Mumbai led this expansion, reflecting sustained occupier confidence and India’s growing appeal as a strategic business destination.
The surge in GCC-led leasing highlights a structural shift in India’s office market, with multinational corporations increasingly setting up advanced capability centres handling complex functions such as technology development, analytics, and global operations. Industry experts note that this record activity signals India’s emergence as a preferred global hub for high-value and innovation-driven work. The trend is also supporting demand for premium office assets and reinforcing long-term growth prospects for commercial real estate across major urban centres. With a diversified occupier base and continued global interest, India’s office market is expected to remain resilient, supported by strong fundamentals and expanding corporate investments in GCC ecosystems.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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